Which of the Following Is True

question 58

Multiple Choice

Which of the following is true?

• A)Frictional unemployment implies a lack of available jobs.
• B)During a recession,cyclical unemployment will be low.
• C)When an economy is at full employment,actual unemployment will be less than the natural rate of unemployment.
• D)When actual GDP equals potential GDP,the actual unemployment rate will equal the economy's natural rate of unemployment.

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Definitions:

Legal Obligations

Duties enforced by law that a person or entity is required to fulfill.

Ratify

To officially approve or confirm, often used in the context of formalizing agreements or treaties.

Letter-Of-Credit

A financial instrument issued by a bank guaranteeing a buyer's payment to a seller, providing security in international trade transactions.

Formal Contract

A legally binding agreement, often in written form, that explicitly outlines the terms and conditions agreed upon by the parties involved.